Title - Vyttila hub second phase on slow track

KOCHI: As metro authorities have not finalized a design to integrate the bus terminus with the Kochi metro project, the mobility hub society is unable to begin the second phase development activities.The delay in getting state government approval for obtaining loan from the consortium of banks had led to the expiry of the sanction accorded by the banks.Speaking to TOI, Vyttila Mobility Hub Society (VMHS), MD M Beena said, "The banks have agreed to write to the head offices to renew the sanction, and we expect the procedures will not take much time."The consortium of banks, led by Union Bank, had agreed to provide Rs 264 crore for the second phase development. The consortium includes South Indian Bank, State Bank of Travancore and Canara Bank. She said the society is yet to sign an agreement with the banks. The loan will have to be repaid in three years, including a moratorium period of one year.Regarding the finalization of designs, KITCO -the consultants for the hub - has come up with a few international designs. These designs have been presented to Kochi Metro Rail Limited and Delhi Metro Rail Corporation- the two metro authorities.KITCO was given permission to seek the service of international consultants while preparing the blueprint.The intention is to improve aesthetics of the hub as well as the proposed boat jetty adjacent to the bus terminal.Once the design is approved, the society can begin the tender process. VMHS expects to complete tender procedures in three months.The estimated cost of second phase is Rs 376 crore.The government has allocated Rs 5 crore and Greater Cochin Development Authority and the Goshree Islands Development Authority will provide Rs 40 crore.Kochi: It has been a long wait for Vyttila mobility hub. But now, as the metro authorities have not yet finalised a design of the bus terminus integrating Kochi metro project, the mobility hub society is unable to begin the second phase development activities. The delay in getting approval from the state government for obtaining loan form the consortium of banks had led to the expiry of the sanction accorded by the banks.Speaking to TOI, Vyttila Mobility Hub Society (VMHS), managing director, M Beena said, "The banks have agreed to write to the head offices to renew the sanction, and we expect that the procedures will not take much time." The consortium of banks led by the Union Bank had agreed to provide Rs 264 crore for second phase development. The consortium includes South Indian bank, State Bank of Travancore and Canara bank. The managing director explained that the society is yet to sign an agreement with the banks. The loan will have to be repaid within three years including a moratorium period of one year.Regarding the finalisation of designs, KITCO -the consultants for the hub has come up with a few international designs. These designs have been presented before Kochi Metro Rail Limited and Delhi Metro Rail Corporation- the two metro authorities. The consultant was given permission to seek the service of international consultants in preparing the blueprint. This is done with the intention to improve aesthetics of the hub as well as the proposed boat jetty adjacent to the bus terminal. Once the design is approved, the society can proceed with the process of tendering the project. And VMHS expects to complete tender procedures within three months.The second phase is estimated to cost Rs 376 crore. The government has allocated Rs 5 crore for it. The Greater Cochin Development Authority (GCDA) and the Goshree Islands Development Authority (GIDA) will provide Rs 40 crore